Cleary Gottlieb advised Accor Acquisition Company (AAC), a special purpose acquisition company (SPAC) sponsored by Accor, which has successfully raised €300 million (in case of exercise in full of the overallotment option) in a private placement of units to be listed on the professional segment of Euronext Paris.
The transaction launched on May 27, 2021, and closed on May 28, 2021. Settlement-delivery is expected to occur on June 2, 2021.
AAC, the first-ever corporate SPAC to list in Europe, has been incorporated for the purpose of acquiring businesses active in sectors adjacent to Accor’s core hospitality business, including food and beverage, flexible working, wellness, entertainment & events, and travel technology.